The crypto market kicked off the day serving mixed signals within the market. Further supported by the fear and greed index holding steady at 55, revealing the neutral sentiment. The assets are oscillating between green and red candles. Meanwhile, Ripple’s XRP has posted a spike of over 1.04%.  The asset

• XRP is hovering near the $2.22 mark.
• Trading volume has skyrocketed by 134%.

The crypto market kicked off the day serving mixed signals within the market. Further supported by the fear and greed index holding steady at 55, revealing the neutral sentiment. The assets are oscillating between green and red candles. Meanwhile, Ripple’s XRP has posted a spike of over 1.04%. 

The asset has been through multiple series of red and green candle formations. XRP traded at the bottom range of $2.20 in the early hours. With the bullish shift, the bulls took command of the asset, and the price has jumped to a high of $2.29. 

XRP, with its market cap at $131 billion, currently trades within the $2.22 range. The asset’s daily trading volume has exploded by over 134%, reaching $2.9 billion, as per CMC data. Furthermore, the market has experienced a $5.20 million liquidation of XRP.  

The asset’s sturdy uptrend might emerge only after it gains enough strength to push the price to its recent highs. With that, XRP should hold the bulls to sustain the positive momentum. 

Can XRP Maintain Its Bullish Pace?

The altcoin’s four-hour technical indicators exhibit upward pressure, with the Moving Average Convergence Divergence (MACD) line settled above the signal line. This indicates a bullish crossover, and the short-term price action is gaining strength with the potential of more upside correction. 

Besides, the Chaikin Money Flow (CMF) indicator resting at 0.23 suggests strong buying pressure in the market, and the money is flowing into the asset, with buyers in control, giving a potentially bullish sign for XRP’s price movement. 

XRP’s trading window with the current sentiment could likely find the immediate resistance at above $2.26. The strengthened price momentum at this range might push the asset to climb to the $2.31 range or higher, confirming a steady upward trend. Further upside may trigger the golden cross to unfold.

Assuming the altcoin breaks down toward the level of $2.17 could pave the road for an extended loss. The emergence of a death cross in the market might send XRP to its previous low of $2.09. The potent bears may push the asset to face more downside correction.  

Moreover, the price chart shows the Bull Bear Power (BBP) value staying at 0.0152, implying that bulls have a slight upper hand in the market. The daily relative strength index (RSI) of XRP is positioned at 54.60, signalling that it is in neutral territory, leaning toward the bullish side.

Highlighted Crypto News

Cetus Relaunches Post-Exploit, Plans Full Open-Source Move